Chapter XIX exclusion applies to payments received by the International Rice Research Institute, subject to specified privileges and immunities condit...
Statutory GST notice and personal hearing remain essential before adverse reverse-charge demands, while unnotified catering cannot trigger reverse cha...
Cash loans accepted from a spouse may attract penalty where the taxpayer cannot establish reasonable cause for using cash despite available banking channels. A family arrangement did not justify the cash acceptance because each taxpayer remains independently liable under the Income-tax Act. Subsequent repayment through cheque did not cure the contravention, which occurs when the loan or deposit is accepted in cash. The penalty was sustained and the appeal was dismissed.
Cash loans accepted from a spouse may attract penalty where the taxpayer cannot establish reasonable cause for using cash despite available banking channels. A family arrangement did not justify the cash acceptance because each taxpayer remains independently liable under the Income-tax Act. Subsequent repayment through cheque did not cure the contravention, which occurs when the loan or deposit is accepted in cash. The penalty was sustained and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
